Zimbabwe suspends 3 financial institutions for exchange control violations

Zimbabwe has suspended three financial institutions- Metbank, Rolink Finance and Innbucks- for exchange control violations.

Metbank was suspended from conducting any foreign currency dealing pending full investigations.

Rolink Finance was suspended from operating as a bureau de change and was fined US$120 000 for exchange control violations.

Innbucks was ordered to stop operating as a money transfer service for failing to regularise its operations. Customers were given 30 days to redeem their balances.

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